Kurabo Industries faces JPY 3.66bn damages lawsuit

Kurabo Industries Ltd. (TSE:3106) announced that it has been named in a lawsuit filed by Sompo Japan Insurance Inc. seeking damages of JPY 3,660,498,560. The lawsuit, received by Kurabo on June 3, 2025, pertains to a fire that occurred at a logistics facility where Kurabo's Chemical Products Division had conducted heat-insulating work. Sompo Japan Insurance is pursuing the claim under insurance subrogation, following an insurance payment made to SBS Flec Co., Ltd., the owner of the damaged facility. The Tokyo District Court is hearing the case, which was initially filed on March 31, 2025. Kurabo Industries stated that it will carefully assess the details of the claims and respond appropriately through its attorneys, but the potential financial impact is currently unclear.